Goldman Sachs: Lower oil prices to cause loss of $1 trillion, many projects ‘unprofitable’
The global oil industry will face a loss of $1 trillion as producers will be forced to cancel a number of key projects if oil prices stay below $60, says Goldman Sachs. Tuesday’s Brent crude trading at $59.9 More...
Gas prices soaring, plenty of blame to go around
Drivers are seeing a 30 cent increase in gas prices over the last week. September 2010 photo/Daniel Christensen A gas refinery explosion in Toledo a few days ago, a spike in crude oil price and a slowdown on production More...
Saudi Arabia reduced oil output in May
A report from Dubai claims the world’s top oil exporter Saudi Arabia pumped 9.8 million barrels per day (bpd) of crude oil in May, an industry source said on Saturday, a reduction of 300,000 bpd from April. Photo/Tech More...
